Stacey Olive
REALTOR®
BEDS13
BATHS
SQUARE FEET5,203
MLS#G5117528
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONEUSTIS
Property Description
ATTENTION INVESTORS: (2) QUAD-PLEX BUILDINGS FOR SALE, (8) APARTMENT UNITS + (4) STORAGE UNITS PROVIDING $97,000.00+ IN ANNUAL CASH FLOW, EUSTIS, FL 32726. Located at 422 & 426 E. Citrus Avenue in the historic district of Eustis and just (3) Blocks from downtown. This is a turnkey investment opportunity, 100% occupancy, annual tenants, and provides a blended 6.925% CAP-RATE. These two separate quadplex buildings sit on .62 acres (115'x 232') with NO HOA and includes a combined heated 5,203 s/f and total size of 5,797 s/f. Both building are on City of Eustis water & sewer services. Building 422 Profile: (3-qty) 1-Bedroom, 1-Bath and (1-qty) 2-Bedroom, 1-BathUnits. All units were fully remodeled and updated in 2018. Building 426 Profile: (4-qty) 2-Bedroom, 1-Bath Units. All units were fully remodeled and updated in 2019. Building 426 also has a detached (4-qty) Rental Storage Units with Roll-Up Doors that also generate cash flow to the property. All units have (2) dedicated parking spaces each. Additionally, the property is located within close proximity & walking distance to Downtown Eustis & Bay Street, Lake Eustis lakefront, lots of restaurants, shops, city parks & just 5-minutes to the Lake County Mall, Target, Walmart, etc. and a variety of other conveniences for the tenants and their guests. Floor Plans & Seller Disclosures for each building & units are attached in the MLS, or available to be emailed. Detailed financials available to Qualified Buyers and includes full Unit Profiles, Upgrades/Improvements/Maintenance Info, Current & Past Income History, Expense Breakdown, Rental Comps Analysis for 1/1 & 2/1 rentals in the entire Eustis market. PLEASE DO NOT ENGAGE OR DISTURBANY OF THE TENANTS. NO SIGN at the property and all inquiries are to be directed ONLY to the Listing Broker. For reference, the purchase price includes the following properties: 422 E. Citrus Ave, Parcel ID#11-19-20-0100-076-00401, Alt Key#1759641 and 426 E. Citrus Ave, ParcelID#11-19-26-0100-076-00403, Alt. Key#1243122. Call directly for more information.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air, Mini-Split Unit(s)
Garage: 5
Heating: Central, Electric
Lot Size: 0.62 Acres
Roof Type: Metal, Other, Shingle
Taxes: $7,560
Year Built: 1925
Amenities
Built-in Features
Ceiling Fans(s)
Eat-in Kitchen
Kitchen/Family Room Combo
Living Room/Dining Room Combo
Primary Bedroom Main Floor
PrimaryBedroom Upstairs
Solid Wood Cabinets
Split Bedroom
Thermostat
Walk-In Closet(s)
Window Treatments
Lighting
Sidewalk
Storage
Feature Descriptions
Additional Rooms: Bonus Room, Family Room, Storage Rooms
Annual Net Income: 65089.00
Appliances: Electric Water Heater, Gas Water Heater, Range, Range Hood, Refrigerator
Days on Site: 53
Directions: From Hwy 441 in Eustis, head north on S. Bay Street (Hwy 19) for approximately 2 miles. Turn right onto Citrus Ave and properties will be down on the right.
Exterior: Stucco, Frame, Wood Siding
Flood Zone Code: x
Flooring: Carpet, Ceramic Tile, Laminate, Luxury Vinyl, Wood
Foundation: Crawlspace, Slab
Garage Dimensions: 20x48
Home Warranty Y/N: No
Lease Terms: Twelve Months
Listing Terms: Cash, Conventional, FHA, VA Loan
Lot: City Limits, Landscaped, Level, Oversized Lot, Sidewalk, Paved
Lot Dimensions: 0.62
Number of Pets: 2
Other Structures: Storage
Ownership: Fee Simple
Parking: Assigned, Ground Level, Guest, Open
Parking Notes: Assigned, Ground Level, Guest, Open
Patio/Porch: Covered, Enclosed, Front Porch, Patio, Rear Porch, Screened
Pets Allowed: Breed Restrictions, Number Limit, Size Limit, Yes
Pets Restrictions: Pet Restrictions Provided Upon Request.
Pets Size: Small (16-35 Lbs.)
Property Attached Y/N: No
Property Sub-Type: Quadruplex
Security: Smoke Detector(s)
Sewer: Public Sewer
Showing Instructions: Appointment Only, ShowingTime
Special Sale Provisions: None
Units: 8
Utilities: BB/HS Internet Available, Cable Available, Electricity Connected, Natural Gas Connected, Public, Sewer Connected, Water Connected
Water: Public
Water Access Y/N: No
Windows: Aluminum Frames, Blinds, Window Treatments, Wood Frames
Zoning: SR
Local Schools
High School: Eustis High School
Middle School: Eustis Middle
Elementary School: Eustis Elem
Listed By / Shown By
Listed By
Agency Name: ROCK SPRINGS REALTY, LLC
Agency Contact: 877-333-2811
Shown By
Agent Name: Stacey Olive
Agent Phone: Cell: (440) 371-9126
Agency Title: Key Realty
Estimate Your Payment
Estimated Payment
$ 6,156.37 per month $5,252.50 Principal & Interest $630.00 Property Tax $273.88 Homeowner's InsuranceChange Payment Information
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422 & 426 E Citrus Avenue | MLS# G5117528
This multi-family property located at 422 & 426 E Citrus Avenue, Eustis, FL 32726 is currently listed for sale with an asking price of $939,000. Search Eustis real estate on www.soldwithstacey.net today.